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the Third Circuit addressed the question of whether or not a mineral lessee must pay its lessor full lease-basis royalties for production undertaken during the effective period of a conditional allowable but prior to the effective date of a unit order. [1] Anglo-Dutch Energy, L.L.C. , Anglo-Dutch Energy, L.L.C. , Anglo-Dutch Energy, L.L.C. ,
The Eastland Court of Appeals addressed, for the first time, the interpretation of a double-fraction royalty reservation in light of Van Dyke. centered on whether a 1933 deed reserved a floating 1/4 royalty interest or a fixed 1/32 interest. The case ( Boren Descendants v. Fasken Oil & Ranch, Ltd. , LEXIS 8405, at *1 (Tex.
Title I addresses the existing moratoria, future OCS access, exploration, production and royalty questions. per MMBtu, unless lease royalties were renegotiated with the Secretary , imposes Conservation of Resources Fee on nonproducing lease acreage of $3.75 House of Representatives passed Speaker Pelosi’s Energy Bill, H.R.
This case presents two critical questions: Who owns subsurface caverns created by salt mining operations, and How should in-kind royalties be calculated for salt production? ” The Fifth Circuit, applying Texas law in Dunn-McCampbell Royalty Interest, Inc. —San Antonio 2013, no pet.) 3d 39 , 47 (Tex.
LLC sought to enforce a provision in a 1948 mineral lease requiring Unitex WI, LLC and Unitex Oil and Gas, LLC (Unitex) to bury pipelines on the ranch land surface CT Land acquired in 2013. The lease provided for a royalty calculated based on the “market value at the well.” In this case, CT Land and Cattle and Cattle Co.,
Eastland 2013, pet. Several years later, Eagle purchased several leases and sold them to Chesapeake Exploration, LLC (“Chesapeake”), reserving an overriding royalty interest and a back-in working interest (the “Interests”). When the suit went to trial, the leases subject to the Chesapeake sale had not generated any royalty income.
Anadarko failed to account to Cimarex for its 1/6th share of production, and Cimarex brought suit in February 2013. Cimarex instead chose to rely on production from several wells Anadarko drilled in 2011 and 2012.
Eastland 2013, pet. Several years later, Eagle purchased several leases and sold them to Chesapeake Exploration, LLC (“Chesapeake”), reserving an overriding royalty interest and a back-in working interest (the “Interests”). When the suit went to trial, the leases subject to the Chesapeake sale had not generated any royalty income.
Recently, when there was talk about Houston-based ATP Oil and Gas’ (ATP) legal problems, it was inevitably about its bankruptcy and its effort to bring the overriding royalty interests it had conveyed back into the bankrupt estate as debt instruments. See United States v. ATP Oil & Gas Corp. , 955 F.Supp.2d 2d 616 (E.D. See 40 C.F.R.
Then again in 2011-2013 it produced 125,000 oz of gold. And once you are in production, you have so many more financing options available to yougold loans, straight debt, royalties etcyou are not always at the mercy of equity markets. THE NEXT BIG STEP IN VALUE CREATION Let me back up one step. g/t from eight open pit oxide deposits.
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